Property Overview: 361 Meadowood Drive, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated home on Meadowood Drive presents a compelling mix of space, value, and established neighbourhood character. Its key appeal lies in offering above-average living space for its immediate area—at 1,080 sqft, it ranks in the top 1% on its own street—while maintaining a very manageable lot size of just under 3,150 sqft. Built in 1974, it is typical for the Meadowood area and represents a solid, mid-century construction.
The data reveals a thoughtful perspective: this home occupies a unique niche. It provides more interior room than most neighbouring houses, which could appeal to those seeking space without the upkeep of a large yard. Its assessed value is notably below the averages for both the broader Meadowood area and the city, suggesting a potential value opportunity for a buyer, especially when compared to the home's sold price history from 2018 and 2022.
This property would best suit first-time buyers, downsizers, or practical investors looking for a comfortable, move-in-ready home in a mature neighbourhood. It’s ideal for someone who prioritizes interior living space over extensive outdoor maintenance and is mindful of property tax assessments based on its current valuation.
Section 2: Frequently Asked Questions
1. How does the living area compare to nearby homes?
At 1,080 sqft, this home is significantly larger than others on Meadowood Drive, ranking in the top 1% on its street. It is slightly below the average for the broader Meadowood area but offers a spacious layout for its assessed value tier.
2. What does the assessed value indicate?
The assessed value of $28,600 is below the average for both the Meadowood area and Winnipeg overall. This can suggest a potentially lower property tax burden relative to similar-sized homes, but it is essential to verify current taxes and understand municipal assessment methodology.
3. Is the lot size a disadvantage?
The 3,148 sqft lot is smaller than many in Winnipeg. However, it is near the average for Meadowood Drive itself. This translates to less yard maintenance, which can be a benefit for buyers seeking a low-maintenance property without sacrificing indoor space.
4. What can the past sale prices tell us?
The home sold in the $200k-$300k range in both 2018 and 2022. Its current assessed value being significantly lower than these past sale prices is a notable point for discussion with a real estate professional to understand market trends and valuation.
5. How does the age of the home factor in?
Built in 1974, the home is typical for the neighbourhood. Buyers should anticipate features and systems consistent with a home of this era and budget for a professional inspection to evaluate the condition of the roof, windows, plumbing, and electrical systems.